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52 Cards in this Set
- Front
- Back
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What is the goal of an indexing technique?
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to reflect how a cost has changed
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Are entry and exit criteria utilized for phases?
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yes
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What does a To-Complete Performance Index (TCPI) 20% higher or lower than the Cost Performance Index (CPI) indicate?
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Estimate At Completion (EAC) not indicative of past performance
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What might serve as the first clue that a project needs to be killed?
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variances
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Which is more time-intensive, bottom-up or top-down estimating?
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bottom-up
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To which component of a project plan is a WBS attached?
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to the Scheduled Tasks
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What 'fudge factor' should be added to time estimates if you are a skilled PM but the team is not experienced?
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1.5 - 2x
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Who should be the first to know if a project loses an important resource?
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the sponsor
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What 'fudge factor' should be added to time estimates when neither the PM nor the team are experienced?
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3x
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What is another term for earned value?
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Budgeted Cost of Work Performed (BCWP)
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What percentage should be added to time estimates to account for quality control?
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10-25%
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The parametric technique is a blend of which two techniques?
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linear regression and unit
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What percentage should be added to time estimates to account for overhead?
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25%
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What does To-Complete Performance Index measure?
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efficiency
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What is the formula for the To-Complete Performance Index (TCPI)?
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work remaining (BAC-BCWP) / funds remaining (BAC-ACWP)
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What is the process of breaking deliverables and requirements down into their component parts called?
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decomposition
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What factor does the unit technique require?
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a per-unit cost
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What is a cost driver?
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any entity that has a direct relationship with a cost
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What can be used to deal with team members who don't like each other?
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team building
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Does an SOW show costs?
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no, only tasks to be performed
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When would a PERT chart be used, as opposed to a Gantt?
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when the project is large or complex
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What is linear regression used for?
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comparing the relationship between two variables
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What is a simple, effective method of beginning rough decomposition?
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sticky notes
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Are entry and exit criteria used for tasks?
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no
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What two cost estimating techniques map one data element to another?
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linear regression and parametric
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Who should a possible scope change be communicated to first?
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the sponsor
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What is a status date?
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the date when a measurement will be taken on how much has been spent on a task
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Who signs the final project plan?
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the sponsor
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What is 'crashing a project'?
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concentrating lots of people on a specific area to bring a deliverable in quickly
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Why should SOW's be included in WBS's?
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because they can affect dependencies
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Which section of a project plan describes philosophical or political situations, technological climate, strategic attitudes, etc.?
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Environmental Issues
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When presented with a top-down budget, which constraint is most likely to be compromised?
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quality
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What is the Budgeted Cost of Work Performed?
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the estimate of how much the completed tasks should have cost
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What component is at the beginning of a project plan?
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the table of contents
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What is the Budget At Completion (BAC)?
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the budgeted cost of the entire project
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What are the two most likely causes of budget overruns?
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too much time spent on a task and an item that costs more than expected
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What is the chief constraint in a top-down budget?
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the budget
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What team group is responsible for overall architectural control?
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the technical group
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What is the budgeted cost of work scheduled?
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How much it should have cost to complete the work that was scheduled
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What is the Estimate At Completion (EAC)?
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the current estimate of cost at completion
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What is an iterative process?
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one that is done over and over
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Does a positive variance indicate you are over or under budget?
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under
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What two things are required in order to proceed with a WBS?
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sign-off by sponsor and consensus among stakeholders
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When you discover a team member working on something out of scope, what are your two options?
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put the item through change control or cancel item
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What is the formula for Schedule Variance (SV)?
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BCWP - BCWS
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What is the formula for Cost Variance (CV)?
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BCWP - ACWP
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What is a baseline?
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an estimated schedule before work begins
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What is unit testing?
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testing of each individual component of a project
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What is a variance?
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the difference between the actual and budgeted values
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What is the formula for Cost Performance Index (CPI)?
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BCWP / ACWP
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What is a 'push'?
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any effort to speed creation of a deliverable
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What is the formula for Schedule Performance Index (SPI)?
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BCWP / BCWS
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